Chinese publication plans to accept Bitcoin for 2019

30 Sep, 2018
by Matthew Kim
News
Chinese publication plans to accept Bitcoin for 2019

Beijing Sci-Tech Report (BSTR), China’s oldest publication focused on Sci-Tech, has announced that it will accept Bitcoin for the 2019 subscription for their technology magazine, “Tech Life”.

The publication announced that the year’s worth of subscription will be 0.01 BTC, and the Bitcoin can be sent directly to the Bitcoin address of the company. At the time of writing, 0.01 BTC would be the equivalent of $66.32. However, since the price of Bitcoin is known for its high volatility, the magazine stated that it will refund the difference to the user in the case of price inflation.

BSTR stated that the decision to accept Bitcoin was made to help Bitcoin’s adoption. If BSTR follows through, it will become the first media company in China to accept Bitcoin. In an attempt to promote blockchain technology, BSTR provides a practical way for people to spend their Bitcoin. Despite heavy restrictions of cryptocurrency-related activity by the Chinese government, digital assets remain widely popular in the country, and BSTR is hoping to keep the interest high.

BSTR has covered technological issues in China for more than 5 decades. The publication also produces the official newspaper for the Ministry of Science and Technology, and they brought the U.S. based magazine “Popular Science” to China.

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